84R18559 SGA-D
 
  By: Menéndez S.J.R. No. 67
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to increase the minimum amount
  that the state may contribute to the Employees Retirement System of
  Texas and the Teacher Retirement System of Texas.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 67(b)(3), Article XVI, Texas
  Constitution, is amended to read as follows:
               (3)  The amount contributed by a person participating
  in the Employees Retirement System of Texas or the Teacher
  Retirement System of Texas shall be established by the legislature
  but may not be less than six percent of current compensation. The
  amount contributed by the state may not be less than seven [six]
  percent nor more than 10 percent of the aggregate compensation paid
  to individuals participating in the system. In an emergency, as
  determined by the governor, the legislature may appropriate such
  additional sums as are actuarially determined to be required to
  fund benefits authorized by law.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 3, 2015.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment to improve the
  actuarial soundness of the Employees Retirement System of Texas and
  the Teacher Retirement System of Texas by authorizing an increase
  in the minimum amount of the state's annual contribution to the
  Employees Retirement System of Texas and the Teacher Retirement
  System of Texas from six to seven percent of the total compensation
  paid to individuals participating in the system."